[onewhippedpuppy]

Very true Jeff. Even when you do have cash, there's a number of other hurdles. In many states, the homeowners have up to one year to reclaim their home by settling with the bank. While most people who make it to foreclosure rarely take advantage of this, the house still isn't really "yours" until this right runs out. Experienced flippers often pay the homeowner to sign a paper waiving their right to reclaim the home.